It was a record year for car sales in the U.S., but domestic automakers had no reason to be euphoric. While Americans bought 16.3 million cars and light trucks last year, up from 15.7 million in 1985, imports accounted for most of that growth. Foreign carmakers now claim 28.2% of the U.S. market, compared with 25.7% in 1985.
The invasion from overseas shows no signs of slowing down. Last week Honda, the leading Japanese carmaker in the U.S., announced a major $450 million investment in a new Ohio facility to build engines and car components for use in the company's Marysville,...
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